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| Market Research
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Finance to the fore: Cliff Mills, NCC Research (April 2008)
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As companies evolve and adapt to remain competitive in today’s global markets, then the finance function is far from
immune to re-evaluating its position and role within the organisation. Structural changes being investigated include
outsourcing, offshoring and shared service centres in order to cut costs, provide a more responsive and consistent
service and to streamline business processes.
The continual requirement to provide enhanced insight into the business’ operations and performance – so that
managers can make more effective and better informed decisions – has led the finance function to adopt more
sophisticated software tools to improve financial reporting.
In addition, the growth in regulation means systems need to be able to store and retrieve information more effectively so
compliance can be easily demonstrated. Other changes in accounting practices, such as IFRS, have also placed
ongoing demands on the finance department.
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